Oppenheimer Asset Management Inc. increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 64.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,472 shares of the company’s stock after buying an additional 965 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Constellation Brands were worth $487,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Mosaic Family Wealth LLC purchased a new stake in shares of Constellation Brands during the first quarter valued at approximately $27,000. Meeder Asset Management Inc. increased its stake in Constellation Brands by 2,750.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock worth $34,000 after buying an additional 165 shares during the period. Gradient Investments LLC increased its stake in Constellation Brands by 265.3% during the 2nd quarter. Gradient Investments LLC now owns 179 shares of the company’s stock worth $35,000 after buying an additional 130 shares during the period. Next Capital Management LLC acquired a new position in Constellation Brands in the 2nd quarter worth $35,000. Finally, Global Retirement Partners LLC lifted its holdings in Constellation Brands by 74.4% in the 1st quarter. Global Retirement Partners LLC now owns 211 shares of the company’s stock worth $37,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 72.30% of the company’s stock.
In other Constellation Brands news, major shareholder Richard Sands sold 95,521 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the completion of the sale, the insider now owns 173,379 shares in the company, valued at $35,468,142.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeremy S. G. Fowden sold 10,213 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $197.35, for a total transaction of $2,015,535.55. Following the completion of the transaction, the director now owns 27,630 shares in the company, valued at $5,452,780.50. The disclosure for this sale can be found here. Insiders own 15.86% of the company’s stock.
Constellation Brands (NYSE:STZ) last released its earnings results on Friday, June 28th. The company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.15. Constellation Brands had a return on equity of 14.98% and a net margin of 27.38%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the business posted $2.20 EPS. Constellation Brands’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts anticipate that Constellation Brands, Inc. will post 8.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Monday, August 12th. Constellation Brands’s dividend payout ratio (DPR) is presently 32.33%.
Several analysts have recently weighed in on STZ shares. SunTrust Banks raised their target price on Constellation Brands from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Monday, July 1st. Barclays reaffirmed a “buy” rating and set a $238.00 target price on shares of Constellation Brands in a research report on Tuesday, July 2nd. Evercore ISI set a $220.00 price target on Constellation Brands and gave the stock a “buy” rating in a research note on Friday, August 9th. Macquarie set a $220.00 price target on Constellation Brands and gave the company a “hold” rating in a report on Wednesday, June 5th. Finally, Bank of America set a $221.00 price objective on Constellation Brands and gave the company a “buy” rating in a research note on Monday, July 1st. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $220.10.
Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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